Is Capitalist economy helpful in maintaining human values?
Dear Student
Please find below the answer to your asked query.
Yes, a capitalist economy is helpful in maintaining human values. History of economic development has shown that a capitalist economy is most effective in promoting rapid economic growth and reducing the extent of poverty in a society. Extreme poverty is the primary cause of degradation of human values. When there is extreme poverty, the few rich people will always exploit the vast majority of the poor. Therefore, the best way to promote human values is by promoting economic growth. Since a capitalist economy is the most effective way to promote economic growth, it is also the best way to promote the development of human values.
Hope this information will clarify your doubts.
If you have any more doubts, just ask here on the forum and our experts will try to help you out as soon as possible.
Regards,
Madhumita
Please find below the answer to your asked query.
Yes, a capitalist economy is helpful in maintaining human values. History of economic development has shown that a capitalist economy is most effective in promoting rapid economic growth and reducing the extent of poverty in a society. Extreme poverty is the primary cause of degradation of human values. When there is extreme poverty, the few rich people will always exploit the vast majority of the poor. Therefore, the best way to promote human values is by promoting economic growth. Since a capitalist economy is the most effective way to promote economic growth, it is also the best way to promote the development of human values.
Hope this information will clarify your doubts.
If you have any more doubts, just ask here on the forum and our experts will try to help you out as soon as possible.
Regards,
Madhumita